Moutinho, who joined the wealthy promoted side from FC Porto for 25 million euros ($33.13 million) in the close season, travelled to Bordeaux last week for their league opener but was not fit enough to play in Monaco's 2-0 victory.
"Hopefully, he'll be available next weekend," Ranieri told a news conference ahead of Sunday's home match against Montpelier.
The Italian coach also confirmed media reports that the principality club was targeting Sampdoria's Argentina goalkeeper Sergio Romero to compete with first choice Danijel Subasic, who whose form was inconsistant in the second division last season.
"We need a goalkeeper. I hope we'll strike a deal but nothing is done yet," Ranieri said.
Big-spending Monaco, owned by Russian billionaire Dmitry Rybolovlev, have splashed out about 150 million euros to bring in top players including Colombia striker Radamel Falcao from Atletico Madrid plus Moutinho and James Rodriguez from Porto.
($1 = 0.7546 euros)